Project 7: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Project 7
Largest movements
- Receivables after one year -€18,000
down €18,000 (-100.0%), from €18,000 to €0
- Receivables within one year -€15,149
down €15,149 (-51.9%), from €29,216 to €14,067
of which Other amounts receivable: -€21,447
- Cash -€11,427
down €11,427 (-20.4%), from €55,939 to €44,513
mainly Contributions, distributions and other (-€57,572) and Tax, wage and social debts (-€5,583)
- Deferred charges and accrued income +€2,316
up €2,316 (+96.7%), from €2,396 to €4,712
- Reserves -€37,915
down €37,915 (-47.1%), from €80,561 to €42,646
- Tax, wage and social debts -€5,583
down €5,583 (-26.2%), from €21,341 to €15,758
- Short-term financial debts +€2,222
up €2,222, from €0 to €2,222
- Gross operating margin -€2,931
down €2,931 (-8.7%), from €33,817 to €30,886
- Taxes -€1,677
down €1,677 (-21.4%), from €7,823 to €6,145
- Financial charges +€1,359
up €1,359 (+112.5%), from €1,208 to €2,567
- Financial income -€646
down €646 (-69.8%), from €926 to €280
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €107,451 | €65,457 | -€41,994 | -39.1% |
| Fixed assets | 21/28 | €1,899 | €2,165 | +€266 | +14.0% |
| Tangible fixed assets | 22/27 | €1,820 | €2,165 | +€345 | +19.0% |
| Plant, machinery and equipment | 23 | €291 | €0 | -€291 | -100.0% |
| Furniture and vehicles | 24 | €1,530 | €2,165 | +€636 | +41.6% |
| Financial fixed assets | 28 | €79 | €0 | -€79 | -100.0% |
| Current assets | 29/58 | €105,552 | €63,292 | -€42,260 | -40.0% |
| Amounts receivable after more than one year | 29 | €18,000 | €0 | -€18,000 | -100.0% |
| Other amounts receivable | 291 | €18,000 | €0 | -€18,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €29,216 | €14,067 | -€15,149 | -51.9% |
| Trade receivables | 40 | €6,480 | €12,778 | +€6,298 | +97.2% |
| Other amounts receivable | 41 | €22,737 | €1,290 | -€21,447 | -94.3% |
| Cash at bank and in hand | 54/58 | €55,939 | €44,513 | -€11,427 | -20.4% |
| Deferred charges and accrued income | 490/1 | €2,396 | €4,712 | +€2,316 | +96.7% |
| Total equity and liabilities | 10/49 | €107,451 | €65,457 | -€41,994 | -39.1% |
| Equity | 10/15 | €84,561 | €46,646 | -€37,915 | -44.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €80,561 | €42,646 | -€37,915 | -47.1% |
| Distributable reserves | 133 | €80,561 | €42,646 | -€37,915 | -47.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €22,890 | €18,811 | -€4,079 | -17.8% |
| Amounts payable within one year | 42/48 | €22,836 | €18,597 | -€4,239 | -18.6% |
| Financial debts | 43 | €0 | €2,222 | +€2,222 | |
| Credit institutions | 430/8 | €0 | €2,222 | +€2,222 | |
| Trade debts | 44 | €1,495 | €617 | -€878 | -58.7% |
| Suppliers | 440/4 | €1,495 | €617 | -€878 | -58.7% |
| Taxes, remuneration and social security | 45 | €21,341 | €15,758 | -€5,583 | -26.2% |
| Taxes | 450/3 | €21,341 | €15,758 | -€5,583 | -26.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €54 | €214 | +€160 | +294.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,445 | €1,472 | +€27 | +1.9% |
| Other operating charges | 640/8 | €1,278 | €1,324 | +€46 | +3.6% |
| Gross operating margin | 9900 | €33,817 | €30,886 | -€2,931 | -8.7% |
| Operating profit (loss) | 9901 | €31,093 | €28,090 | -€3,004 | -9.7% |
| Financial income | 75/76B | €926 | €280 | -€646 | -69.8% |
| Recurring financial income | 75 | €926 | €280 | -€646 | -69.8% |
| Financial charges | 65/66B | €1,208 | €2,567 | +€1,359 | +112.5% |
| Recurring financial charges | 65 | €1,208 | €2,567 | +€1,359 | +112.5% |
| Profit (loss) for the period before taxes | 9903 | €30,812 | €25,803 | -€5,009 | -16.3% |
| Income taxes | 67/77 | €7,823 | €6,145 | -€1,677 | -21.4% |
| Profit (loss) for the period | 9904 | €22,989 | €19,657 | -€3,332 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,989 | €19,657 | -€3,332 | -14.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.